DLF, Indiabulls Real may see further downside: Sukhani

DLF and Indiabulls Real may see further downside, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, “DLF and Indiabulls Real Estate these are the two stocks that are suggesting that a further breakdown is possible. A lot of this will depend on whether the Nifty stops here around 5,100 or actually continues going down.”
He further added, “If it does then the two names I suggested DLF and IB Realty and then the rest of the realty pack will also follow. So the short selling should be done only when we see the Nifty crack below 5100.”
“Tata Motors has broken all support levels. the next support comes at Rs 190, anybody’s call if that is going to work out but that is where you start feeling okay, the decline can stem now. For Maruti, same levels as fundamentals have come on technicals, Rs 1,050. A breach of Rs 1,050 then starts giving worrying signals not only for Maruti but I think for all the associated auto stocks because all of them are likely to breach support levels. Everyone is close by. For M&M also it is very close. So that would be the sign of a new downtrend that would be worrying.”